Jeannie Niles Real Estate Investment
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Market Watch: November 2006
Palm Springs Area
| Type | New Listings | Pendings | Listings/Sales Ratio |
|---|---|---|---|
| Single Family Homes | 996 | 269 | 3.7 to 1 |
| Condos | 439 | 91 | 4.8 to 1 |
| Multi-Family | 32 | 6 | 5.3 to 1 |
San Diego
| Type | New Listings | Pendings | New Listings/Sales Ratio |
|---|---|---|---|
| Downtown Condos | 144 | 51 | 2.8 to 1 |
San Diego is usually about six months ahead of the desert area market, which is demonstrated by the above. It appears the ratio of new inventory coming on the market is declining in San Diego, but in the desert is continuing to increase.
In my research, it does not appear there are substantial price reductions, mostly people are adjusting to not getting an inflated price over last year, and getting accustomed to longer market times.
In the current market, a property needs to be the best one available at the lowest price for comparable product.
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Income property has once again become “Income property”.
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There are many small income properties available in the area. Prices here have declined over 50% since the peak of the market late 2005/early 2007.
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It’s possible to obtain some great apartment financing. 25% down payment and interest rates at 6% or slightly below.
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Cap Rate is an investment tool for analysis that enables an investor to compare one investment to another.
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Cap Rate is the best tool for determining the value of an income property.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
